Charitable Legacy

Four Charitable Legacy Tools

1. Donor-Advised fund (DAF) – A DAF is a way to create a lasting legacy, which can help secure that charitable work continues for future generations. It is like a private foundation without all the legal requirements.
2. Charitable Remainder or Lead Trust – Utilizing highly appreciated taxable assets, you can set up a trust to pay income to yourself or someone else with the remainder going to your church or to your favorite charity.
3. Charitable Gift Annuity – Is an annuity gift that is a way to donate to your church or favorite charity and receive fixed payments for life in return. The payout you receive is determined by age and the age of any other person you name to receive the gift payments. The older you are, the higher the rate you can secure when the contract is signed.
4. Bequeathing Gifts from the Will and/or Trust - These are gifts to your church or favorite charity directed by your will or trust to a designated beneficiary. It can be unrestricted, restricted, contingent or endowed.

What is a Charitable Legacy Blessing Plan?

It is a plan to incorporate charitable giving goals into your estate plan. It can involve leaving a gift (bequest) in a will or creating a set of instructions in your trust to allow for your charity or church donations.

There are numerous tax benefits associated with your tax-deferred retirement assets and charitable giving. This starts with the ability to claim charitable deductions for your donation, assuming you itemize deductions.